Traders Are Bullish Harvey Nash Group plc After Today’s Gap Up

 Traders Are Bullish Harvey Nash Group plc After Today's Gap Up

The stock of Harvey Nash Group plc (LON:HVN) gapped up by GBX 0.125 today and has GBX 67.85 target or 9.00% above today’s GBX 62.25 share price. The 6 months technical chart setup indicates low risk for the GBX 47.18 million company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 67.85 price target is reached, the company will be worth GBX 4.25 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 3.75% or GBX 2.25 on November 22, hitting GBX 62.25. About 79,013 shares traded hands or 147.95% up from the average. Harvey Nash Group plc (LON:HVN) has declined 25.35% since April 25, 2016 and is downtrending. It has underperformed by 29.91% the S&P500.

Harvey Nash Group plc (LON:HVN) Ratings Coverage

Out of 2 analysts covering Harvey Nash Group PLC (LON:HVN), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Harvey Nash Group PLC has been the topic of 9 analyst reports since September 30, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, September 29 by Numis Securities. The rating was maintained by Numis Securities with “Buy” on Wednesday, September 30. Panmure Gordon maintained Harvey Nash Group plc (LON:HVN) rating on Wednesday, September 30. Panmure Gordon has “Buy” rating and GBX 129 price target. The rating was maintained by Panmure Gordon on Monday, December 7 with “Buy”. The firm has “Buy” rating by Numis Securities given on Friday, February 26. The firm earned “Buy” rating on Friday, February 26 by Panmure Gordon. The stock has “Buy” rating given by Numis Securities on Monday, December 7. The firm has “Buy” rating given on Thursday, September 29 by Panmure Gordon. On Wednesday, July 6 the stock rating was maintained by Numis Securities with “Buy”.

Harvey Nash Group plc is a United Kingdom recruitment business company. The company has a market cap of 47.18 million GBP. The principal activity of the Company is the provision of professional recruitment and offshore solutions. It has a 6.8 P/E ratio. The Company’s divisions include United Kingdom & Ireland, Mainland Europe and Rest of World.

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